The National Commercial Bank’s Ratings Affirmed with a Stable Outlook
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Summary
Ref: SA 007 19CRA00-01 9 July 2020
The National Commercial Bank’s Ratings Affirmed with a Stable Outlook
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating ( LT FCR ) and Short-Term Foreign Currency Rating (ST FCR) of The National Commercial Bank (NCB) at ‘A + ’ and ‘A 1 ’, respectively . At the same time , CI Ratings has affirmed NCB ’s B ank S tandalone R ating (BSR) of ‘ a- ’, C ore F inancial S trength (CFS) rating of ‘ a -’ , and E xtraordinary S upport L evel (ESL) of High. The Outlook for the LT FCR and BSR remain s Stable.
The Bank’s LT FCR is set two notches above the BSR to reflect CI’s firm belief that official support for NCB would be forthcoming if needed, and hence the ESL of High. As the sovereign is itself rated ‘A+’, financial capacity to support is not in doubt. Given the…